Thu, Apr 18, 2013 - 2:32pm
Currently have about 1/3 of my savings in physical gold and silver. Watching, reading, studying what has gone on in history and what is happening now.
I have been considering cashing out my entire 401K, taking the tax hit and putting it all into physical.
However the RISK of having all my eggs in one basket is the a concern I have.
The next concern is the yearly tax hit I would endure by not contributing to my 401K.
The final concern is I am able to stash away an additional 25% of what I pay myself into my 401K as a company match.
So I save a bundle on taxes currently.
I am self employed and manage my own IRA and 401K. My IRA is entirely physical stored in a vault. 401K mostly cash as the stock market is a joke. Not a day trader - don't have the time. If the govt. comes after retirement I can get out with a couple quick phone calls unlike people who actually work for a company.
So - I am thinking "out loud" here to get people's thoughts on RISK. Hard to assess as events unfolding are not set in stone and can change. I can't imagine the stock market will ever be the same again. There is no coming back from the corruption and hence I don't think there is a very good chance I will make any money in the market while my dollars sit there and lose purchasing power.
On the other hand the system could go on a lot longer than we might imagine.
Edited by: Sillypicker on Nov 8, 2014 - 5:30am